The reasoning is as follows: As investments in China begin to fall in value, Chinese investors will look to a safe have in the form of gold. The report also says there will be a shift in China from buying during holiday seasons to buying consistently throughout the year. Additionally, some traders feel the Chinese government may look to re-stimulate its economy, and that could be good for gold as well since gold is a hedge against inflation.

So, based on that thinking, while a rising China was a buy signal, a declining China is a buy signal, too.

Is that thesis right or is gold going to break like china? We ask CNBC contributor Steve Cortes, Founder of Veracruz TJM to look at the fundamentals and Talking Numbers contributor Richard Ross, Global Technical Strategist at Auerbach Grayson, to look at the technicals.

To see Cortes and Ross analyze gold given China's economy, watch the video above.